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China is approaching its own peak oil
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One significant headwind is Chinese consumers’ rising preference for bigger, heavier vehicles a trend that has been reinforced by rising incomes and cheap oil over the past half-decade.
(REUTERS)
Nathaniel Taplin
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Big Oil has become used to a ravenous China. But Chinese energy companies are starting to look ahead to an overall peak in oil demand around mid-decade. Sinopec, China’s largest refiner, estimated in December that the nation’s demand for oil products will peak in 2025.
While that might yet prove ambitious, a confluence of events over the past year suggests that the peak in China could still arrive before too long.
Illustration by Elijah White, Updated 9:26, Feb. 10, 2021 | Published 14:30, Feb. 3, 2021
On September 1, 2019, the category five storm Hurricane Dorian slammed into the Bahamas with gusts of 354 kilometres per hour and storm surges of over six metres. Instead of sweeping up what it could before steadily moving on, Dorian was patient, pummelling the islands for over forty hours straight. More than 70,000 people were displaced and 13,000 homes destroyed. On land, as the morgues filled up, bodies were piled high in refrigerated containers. Search-and-rescue dogs sniffed out corpses from under the debris; many were buried too deep for anyone to reach. Though the official death toll was seventy-four, some including the Bahamas health minister at the time believe the real number is much, much higher.
04 December 2020
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International treaties governing nuclear security serve as frameworks based on shared experience, but they are not a substitute for practical and ongoing cooperation. This was one of the messages from delegates at
NP1 - The Nuclear Power Conference Israel - Threats, Challenges, Opportunities.
Ori Nissim Levy, chairman of the NP1 conference
The 10 November event took place amid growing concern about Iran s move away from its commitments under the Joint Comprehensive Plan of Action (JCPoA) and signals from president-elect Joe Biden that the USA will re-enter the agreement. A recording of the online conference, which had 30 speakers and more than 1000 registered participants, was uploaded to YouTube this week.
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